Bitcoin Daily: Ukraine Busts Alleged Crypto Laundering Operation; Blockchain Shipping Platform TradeLens Expands

Binance helped catch a purported cybercrime organization behind an alleged $42 million laundering effort, according to a statement from the cryptocurrency exchange.

The platform said that “suspicious activity" that its Sentry workforce found and examined in conjunction with Ukraine’s Cyber Police brought about the identification and detention of a purported cybercriminal group behind alleged ransomware activities and laundering of over $42 million in digital currencies during the past two years.

“We strongly believe that continued collaboration such as this will be a driving force in boosting cryptocurrency adoption and improving the image of the greater crypto space,” Binance said in the statement.

Early this year, Binance said it bolstered resources to take a more in-depth look at the possible ways in which so-called Bulletproof Exchangers were laundering money via the digital currency market. The firm indicated that Bulletproof Exchangers are renowned for lax anti-money laundering (AML) and know-your-customer (KYC) procedures.

In other news, YILPORT Holding has teamed with TradeLens to bolster digitalization and teamwork in the supply chain, according to an announcement.

The joint effort began in July with data integration from the Gemport and Gebze terminals to the technology, which is based on blockchain.

TradeLens is a digital shipping technology fueled by blockchain infrastructure made by IBM and A.P. Moller - Maersk together.

Communications are handled through application programming interface (API) exchanges. Six primary messages are functioning between TradeLens and YILPORT and include “gate out,” “gate in,” “vessel discharge,” “vessel load,” “actual discharge date list,” and “actual load date list.” The aim is to supplant the data exchange methods of the past with almost instantaneous flows.

“By working with TradeLens, YILPORT Holding will accelerate the digitization of global trade for importers and exporters across our network,” YILPORT Holding Chief Information Officer Mark Wootton said. “Modernizing the processes through which logistics operates is critical to building more robust and efficient supply chains which will help with economic development and value creation for all parties.”



Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.